Supercomputer maker Cray expects revenue to top $400M

Revenues at Seattle supercomputer slipped substantially in the fourth quarter as delays in key components led to a large deal not being recognized. As a result, Cray reported revenue of $91.6 million during the quarter, down from $219.4 million for the same period last year.

But the company says it is gaining momentum in the new year, and things look bright in 2012.

“We continue to see strength in our high-end supercomputer business with a number of big wins over the past few months, both domestically and abroad,” said Peter Ungaro, president and CEO of Cray in a statement.

Ungaro said the company — which posted net income of $31 million last quarter — is on track to record $400 million to $420 million in revenue this year. It also expects to be profitable for the year.

John Cook is GeekWire's co-founder and editor, a veteran reporter and the longest-serving journalist on the Pacific Northwest tech startup beat. Follow him @johnhcook and email john@geekwire.com.